Whale movement has surged, with 218.06 million XRP transferred in the span of a day.
Garlinghouse, the CEO of Ripple, is optimistic about the launch of an XRP ETF by 2025.
Once again, there has been a significant increase in whale activity, piquing the interest of investors, especially as XRP continues to hold steady above the $0.52 mark. Recent on-chain data reveals that over 218 million coins have been on the move within the past 24 hours.
The pattern of whales engaging in buy-and-dump transactions is evident from this spike in activity, sparking discussions about a potential XRP surge.
Whales have shifted a staggering 218.06 million coins in the past day, as reported by the on-chain transaction tracker Whale Alert. Notably, these whales withdrew 50.25 million XRP from Binance, with others unloading substantial amounts on various centralized exchanges (CEXs).
What’s intriguing is that a total of 167.81 million XRP were dumped on exchanges like Bitstamp, Bitso, and Coinbase. These sell-offs have significantly impacted the momentum from the previous day.
Confidence in the Future of XRP
It is worth mentioning that recent reports suggest that XRP whales who acquired tokens from Binance are consistently making similar purchases, indicating a growing confidence in the asset’s potential growth. Furthermore, XRP appears to be weathering the market pressure quite well.
The surge in whale activity coinciding with the buzz around XRP ETFs in major corporations has fueled speculation.
The futures open interest (OI) for XRP has been steadily increasing and currently stands at $666.79 million, according to Coinglass data. However, derivatives volume has dropped by 19.76% to $657.42 million, sparking mixed opinions within the cryptocurrency community about XRP’s future.
According to CoinMarketCap, the current price of XRP is around $0.5253, marking a 1.03% decrease from the previous day but showing a positive trend over the past week with a 1.15% increase.
In a previous report, Ripple CEO Brad Garlinghouse expressed his conviction that the introduction of an XRP ETF is inevitable by 2025.
For more information:
– Buy Ripple (XRP) Guide
– Ripple XRP Wallet Tutorial
– Check 24-hour XRP Price
– More Ripple (XRP) News
– What is Ripple (XRP)?